Samsung has officially announced a partnership with Ant Financial Services Group to make Alipay, China’s largest third party payment platform, accessible through Samsung Pay. Samsung Pay is already an easy-to-use alternative to paying with a card and Samsung hopes that by expanding the service they will boost their overall smartphone sales. This is particularly of import, due to the fact that Samsung are no longer one of the leading smartphone brands in China anymore.
- Samsung Pay vs Apply Pay vs Android Pay overview
- Samsung Pay: What is it, how does it work and how do I use it?
Alipay sits at well over 450 million registered users, so it’s safe to say that both companies want to turn heads. Samsung and Alipay hope that with their collaboration, they are able to completely realize their dream of giving people a “true digital wallet”. Considering how many people subscribe to the payment platform, that dream may not be far off.
Samsung Pay was already released to China back in March, just a mere month after Apple Pay was launched. Unfortunately for other payment services though, Samsung’s partnership with such a big company like Alipay puts them at the top of the market. Other companies will be fighting an uphill battle if they want to throw their hats into the ring. Reportedly, Apple tried to strike a deal with the company since last year, despite owning a 14.6 percent market share.
Samsung Pay is only available for newer Samsung devices such as the Galaxy S7 line, the Galaxy S6 Edge+, and most of the Galaxy A line. However, support for more devices is expected in the future.